2016 Kia Optima Insurance Rates
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UPDATED: Nov 30, 2021
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Average insurance rates for a 2016 Kia Optima are $1,398 a year including full coverage. Comprehensive insurance costs on average $260 each year, collision insurance costs $458, and liability costs around $500. Buying a liability-only policy costs as low as $560 a year, and high-risk insurance costs $3,022 or more. Teen drivers receive the highest rates at up to $5,390 a year.
Annual premium for full coverage: $1,398
Rate estimates for 2016 Kia Optima Insurance
Rate data is compiled from all 50 U.S. states and averaged for all 2016 Kia Optima models. Rates are based on a 40-year-old male driver, $500 comprehensive and collision deductibles, and a clean driving record. Remaining premium consists of UM/UIM coverage, Medical/PIP, and policy fees.
Price Range by Coverage and Risk
For a 40-year-old driver, prices range range from as low as $560 for a discount liability-only rate to a high rate of $3,022 for high-risk insurance.
These differences highlight why all drivers should compare prices based on a specific location and risk profile, instead of using price averages.
Use the form below to get rates for your location.
Enter your zip code below to view companies based on your location that have cheap auto insurance rates.
Recommended Companies for Cheap 2016 Kia Optima Insurance
Buyers have lots of choices when searching for low-cost Kia Optima insurance. You can either waste hours driving around to compare prices or save time using the internet to compare rates.
There are more efficient ways to shop for insurance coverage so we’re going to tell you the absolute fastest way to price shop coverage on a Kia and locate the cheapest rates from both online companies and local agents.
Save money by taking advantage of these discounts
Car insurance is not cheap, but discounts can save money and there are some available to reduce the price significantly. A few discounts will automatically apply at quote time, but a few need to be asked about prior to receiving the credit. If you’re not getting every credit you deserve, you are paying more than you should be.
- Air Bag Discount – Factory air bags may earn rate discounts of 20% or more.
- Club Memberships – Belonging to certain professional organizations is a good way to get lower rates when shopping for insurance coverage on Optima coverage.
- Good Student – Performing well in school can be rewarded with saving of up to 25%. The good student discount can last well after school through age 25.
- Early Switch Discount – Some companies give discounts for switching policies before your current expiration date. It’s a savings of about 10%.
- Senior Discount – Mature drivers may qualify for reduced rates on Optima coverage.
- Seat Belt Usage – Using a seat belt and requiring all passengers to buckle their seat belts could save 15% off your PIP or medical payments premium.
- Life Insurance – Companies who offer life insurance give better rates if you take out life insurance.
- Anti-theft System – Cars that have factory anti-theft systems help deter theft and earn discounts up to 10%.
As a disclaimer on discounts, most of the big mark downs will not be given to the entire policy premium. Most only apply to the price of certain insurance coverages like liability and collision coverage. So even though they make it sound like you would end up receiving a 100% discount, insurance coverage companies aren’t that generous. Any amount of discount will reduce your premiums.
A partial list of companies that possibly offer some of the above discounts include:
- State Farm
- Liberty Mutual
- The Hartford
Double check with each company which discounts they offer. All car insurance discounts may not be available in your state.
The fastest way that we advise to compare insurance rates in your area utilizes the fact most of the bigger providers participate in online systems to provide you with a free rate quote. All consumers are required to do is provide a small amount of information such as whether your vehicle is owned or leased, whether you have decent credit, the make and model of your vehicles, and if a SR-22 is required. Your details is submitted instantly to multiple different insurance companies and they return rate quotes immediately.
Parts of the Kia Optima rate equation
An important part of buying insurance is that you know the different types of things that come into play when calculating the price you pay for car insurance. Knowing what determines base rates allows you to make educated decisions that can help you get better car insurance rates.
The list below includes a few of the “ingredients” companies use to determine your rates.
- Save money with special equipment – Owning a car with an alarm system can get you a discount on your car insurance. Theft prevention features such as LoJack tracking devices, vehicle tamper alarm systems or GM’s OnStar system can help prevent your vehicle from being stolen.
- Rate your vehicle for proper use – The higher the mileage driven in a year the higher your rates will be. Most insurance companies rate vehicles determined by how the vehicle is used. Autos used primarily for pleasure use can get a lower rate compared to those used for work or business. If your policy improperly rates your Optima can result in significantly higher rates. Double check that your car insurance declarations sheet is showing the correct usage for each vehicle, because it can save money.
- Marriage brings a discount – Having a spouse can get you a discount when buying car insurance. Marriage usually means you are more responsible and statistics show being married results in fewer claims.
- Rural vs Urban Areas – Choosing to live in small towns and rural areas has it’s advantages when buying car insurance. Lower population means reduced accidents and a lower car theft rate. Drivers in populated areas tend to have congested traffic and longer commutes to work. Longer commute distances means more change of being in an accident.
When should I use an insurance agent?
When choosing adequate coverage, there really is no “perfect” insurance plan. Every insured’s situation is different.
Here are some questions about coverages that could help you determine whether or not you would benefit from an agent’s advice.
- I don’t drive much so do I pay less?
- Is a fancy paint job covered?
- Can my teen driver be rated on a liability-only vehicle?
- Is my nanny covered when driving my vehicle?
- What is medical payments coverage?
- Do I need PIP (personal injury protection) coverage in my state?
- What are the best liability limits?
- Will my insurance pay for OEM parts?
If you don’t know the answers to these questions but a few of them apply, you might consider talking to a licensed insurance agent. If you don’t have a local agent, fill out this quick form. It only takes a few minutes and may give you better protection.
Beware of misleading car insurance ads
Consumers can’t get away from ads for car insurance savings from the likes of State Farm and Allstate. All the companies say the same thing that you can save after switching your coverage to them.
How do they all make almost identical claims? This is how they do it.
Insurance companies have a certain “appetite” for the type of driver that is profitable for them. An example of a desirable insured might be between the ages of 40 and 55, owns a home, and has a short commute. A customer getting a price quote that hits that “sweet spot” will qualify for the lowest rates and as a result will probably cut their rates substantially.
Potential customers who do not match these standards will be charged higher prices and ends up with the driver buying from a lower-cost company. The ad wording is “customers that switch” not “people who quote” save money. This is how insurance companies can confidently claim big savings.
That is why drivers must get as many quotes as possible. It’s impossible to know which company will give you the biggest savings on Kia Optima insurance.
Information about specific coverages
Knowing the specifics of a insurance policy helps when choosing which coverages you need for your vehicles. The terms used in a policy can be confusing and reading a policy is terribly boring.
Liability auto insurance
This provides protection from injuries or damage you cause to a person or their property by causing an accident. It protects you from legal claims by others. It does not cover damage to your own property or vehicle.
Split limit liability has three limits of coverage: bodily injury per person, bodily injury per accident and property damage. You commonly see liability limits of 50/100/50 which stand for $50,000 bodily injury coverage, a limit of $100,000 in injury protection per accident, and a total limit of $50,000 for damage to vehicles and property. Alternatively, you may have a combined single limit or CSL which combines the three limits into one amount without having the split limit caps.
Liability insurance covers claims such as pain and suffering, emergency aid, court costs and structural damage. The amount of liability coverage you purchase is a decision to put some thought into, but consider buying as much as you can afford.
UM/UIM (Uninsured/Underinsured Motorist) coverage
Uninsured or Underinsured Motorist coverage protects you and your vehicle when the “other guys” do not carry enough liability coverage. Covered losses include medical payments for you and your occupants as well as damage to your Kia Optima.
Since a lot of drivers have only the minimum liability required by law, their liability coverage can quickly be exhausted. So UM/UIM coverage is a good idea. Usually your uninsured/underinsured motorist coverages are set the same as your liablity limits.
Medical payments and PIP coverage
Coverage for medical payments and/or PIP provide coverage for short-term medical expenses for things like chiropractic care, hospital visits, prosthetic devices and funeral costs. They can be used to fill the gap from your health insurance program or if there is no health insurance coverage. Medical payments and PIP cover you and your occupants and also covers getting struck while a pedestrian. PIP is not available in all states and may carry a deductible
This pays for damage to your Optima from colliding with another car or object. You first must pay a deductible then the remaining damage will be paid by your insurance company.
Collision coverage pays for things like damaging your car on a curb, driving through your garage door, scraping a guard rail, crashing into a building and hitting a mailbox. Collision is rather expensive coverage, so analyze the benefit of dropping coverage from vehicles that are 8 years or older. Another option is to choose a higher deductible in order to get cheaper collision rates.
Comprehensive auto coverage
Comprehensive insurance coverage will pay to fix damage that is not covered by collision coverage. A deductible will apply then the remaining damage will be covered by your comprehensive coverage.
Comprehensive coverage protects against claims like rock chips in glass, damage from flooding and vandalism. The maximum amount you’ll receive from a claim is the market value of your vehicle, so if the vehicle’s value is low it’s probably time to drop comprehensive insurance.
Make an honest buck
We just presented a lot of ways to shop for 2016 Kia Optima insurance online. The most important thing to understand is the more providers you compare, the more likely it is that you will get a better rate. Consumers could even find that the lowest priced insurance comes from a lesser-known regional company.
The cheapest insurance can be sourced both online in addition to many insurance agents, so compare prices from both so you have a total pricing picture. Some insurance providers do not provide online quoting and most of the time these regional insurance providers sell through independent agents.
Insureds change insurance companies for any number of reasons including being labeled a high risk driver, extreme rates for teen drivers, not issuing a premium refund and poor customer service. Regardless of your reason, switching companies is pretty easy and you might even save some money in the process.
- Coverage Information (Progressive Insurance)
- How Much is Memphis Car Insurance for a Kia Optima? (MemphisCoverage.com)
- Information for Teen Drivers (GEICO)
- Crash Avoidance Technologies FAQ (iihs.org)
- Keeping Children Safe in Crashes Video (iihs.org)
- Choosing an Insurance Company (Insurance Information Insitute)
- What are my Rights when Filing a Claim? (Insurance Information Insitute)
Rates by U.S. City
|New York City, NY||$2,205|
|Los Angeles, CA||$2,388|
Need a specific model?
Choose your model and trim below
Rates by Driver Age
Full coverage, $500 deductibles
Rates by Deductible
Full coverage, driver age 40
Rates by Liability Limit
Full coverage, driver age 40
Rates for High Risk Drivers
Full coverage, $500 deductibles, two speeding tickets, and one at-fault accident
If a financial responsibility filing is required, the additional charge below may also apply.
Potential Rate Discounts
If you qualify for discounts, you may save the amounts shown below.
|5-yr Accident Free||$97|
|5-yr Claim Free||$90|
|Paid in Full/EFT||$59|
Discounts are estimated and may not be available from every company or in every state.